Analyst upgrades, downgrades and initiations: GYMB, BP, CVX, COP, TOL

Analyst upgrades:

Banc of America/Merrill upgraded Gymboree (NASDAQ:GYMB) to Buy from Underperform and raised their target to $33 from $15 following the company's Q1 comparable store sales guidance.
Oppenheimer upgraded Lam Research (NASDAQ:LRCX) to Outperform from Perform after channel checks indicated the company's shipments are gaining momentum. The firm raised their price target on the stock to $35 from $20.
Owens & Minor (NYSE:OMI) was raised to Outperform from Neutral at Credit Suisse. The firm upgraded shares but lowered their target to $45 from $46 citing underappreciated earnings growth and valuation.
Albermarle (NYSE:ALB) was upgraded to Conviction Buy from Neutral at Goldman.
Protective Life (NYSE:PL) was upgraded to Neutral from Sell at UBS.
Maxim (NASDAQ:MXIM) was lifted to Buy from Hold at Canaccord.

Analyst downgrades:

Barclays downgraded Microsemi (NASDAQ:MSCC) to Equal Weight from Overweight and lowered their target to $10 from $12 citing weakness in the commercial air market and the DoJ lawsuit.
Oppenheimer downgraded BP (NYSE:BP), Chevron (NYSE:CVX), ConocoPhillips (NYSE:COP) and other major oil companies to Perform from Outperform following the recent rally as they expect investor focus to shift to smaller names in the group and for higher environmental costs to depress earnings.
Banc of America/Merrill downgraded Moog Inc (NYSE:MOG.A) to Underperform from Neutral and lowered their target to $25 from $35 following the company's lowered guidance.
Interline Brands (NYSE:IBI) was cut to Neutral from Buy at SunTrust.
Sanderson Farms (NASDAQ:SAFM) was lowered at JP Morgan to Neutral from Overweight.

Analyst initiations:

Keefe Bruyette initiated Zenith National (NYSE:ZNT) with a Market Perform rating, citing a lack of near-term catalysts given the uncertainty in the California workers' compensation market. The firm set a $27 price target on the stock.
Oppenheimer believes shares of Anadys Pharmaceuticals (NASDAQ:ANDS) are undervalued given their expectations for positive near-term ANA598 data. The firm set an Outperform rating and $10 price target on the stock.
Jefferies thinks Mariner Energy (NYSE:ME) could be the best-positioned offshore-focused independent producer and believes the company's recent discoveries provide production visibility for the next two years. The firm set a Buy rating and $11.50 price target on the stock.
Achillion (NASDAQ:ACHN) was assumed with a Buy rating at Merriman.
Toll Brothers (NYSE:TOL) was started at Stifel Nicolaus with a Hold rating.
C.R. Bard NYSE:BCR) was initiated with an Outperform rating at William Blair.